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Random Coefficients and Unbalanced Panels: An Application on Data from Norwegian Chemical Plants

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Abstract

A framework for analyzing substitution and scale properties, and technical change from plant-level panel data is presented. Focus is on comparing the constant and random coefficient specification of the substitution and scale parameters and investigating the potential variation of the parameters across firms. Characteristics of the model framework are (i) an equation system consisting of a three-factor translog cost function and the corresponding cost-share equations, (ii) random firm specific heterogeneity in coefficients, and (iii) a Maximum Likelihood procedure allowing for unbalanced panel data. The empirical results, based on data from Norwegian chemical plants, indicate substantial firm specific heterogeneity in substitution and scale properties.

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  • Erik Biørn & Kjersti-Gro Lindquist, 1998. "Random Coefficients and Unbalanced Panels: An Application on Data from Norwegian Chemical Plants," Discussion Papers 235, Statistics Norway, Research Department.
    • Handle: RePEc:ssb:dispap:235
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    File URL: https://www.ssb.no/a/publikasjoner/pdf/DP/dp235.pdf
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    Cited by:

    1. Kjersti-Gro Lindquist, 2002. "The Effect of New Technology in Payment Services on Banks' Intermediation," 10th International Conference on Panel Data, Berlin, July 5-6, 2002 B3-2, International Conferences on Panel Data.

    More about this item

    Keywords

    Panel Data. Random Coefficients. Unbalanced Data. Heterogeneity. Production technology;

    JEL classification:

    • C33 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Models with Panel Data; Spatio-temporal Models
    • D21 - Microeconomics - - Production and Organizations - - - Firm Behavior: Theory
    • D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
    • L65 - Industrial Organization - - Industry Studies: Manufacturing - - - Chemicals; Rubber; Drugs; Biotechnology; Plastics

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